Votium
Votium is a rewards management protocol and "bribes" marketplace where DeFi projects offer rewards to governance token holders. In exchange for receiving bribes, users vote in favor of the projects' proposals.
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- Code not reviewed by any experienced auditors
- Anonymous team reduces transparency
- No documented protocol hacks since launch
- Core protocol launched in 2021; maturity over one year minimizes technical risk as smart contracts are well battle-tested
- Top 1% by total value locked reduces risk
- Multisig wallet controls protocol upgrades
- Multisig consists of less than 4 signers, which makes the protocol more susceptible to centralization risks
- No timelock exists or no information documented, which mean a malicious actor could approve upgrades without any delay
- No governance token and/or contracts are fully immutable
- No death spiral concerns
- This protocol is susceptible to risks related to yield optimizers which deploy custom strategies to automatically manage user funds
How Votium works
Votium is a bribe platform for vlCVX and veCRV holders who lock their tokens to receive voting power and direct protocol emissions on the Curve platform. Users can delegate their voting power to Votium to choose the best incentives on every proposal. This incurs no risk to user funds as Votium does not retain custody of the underlying vlCVX and veCRV. It is currently not possible to delegate veCRV voting rights. Convex delegators who wish for Votium to vote for them only need to delegate their votes once and will be covered for all future bribes. Users can always choose to vote manually despite delegating their voting power. When a new Convex Snapshot proposal starts, it will be listed on Votium to receive incentives. Protocols will select the token they wish to use to bribe, the amount to pay, and which pool will receive the bribe when voted for by users. This incentive can be continuously increased until the proposal is over. Votium then votes on behalf of their delegators and the bribes are distributed among voters.
How Votium makes money
Votium currently does not have its own protocol token. The protocol collects 4% of the vlCVX bribes and 2% of the veCRV bribes earned through Votium as maintenance fees.
How you make money on Votium
You earn bribe revenue by delegating your vlCVX voting power to Votium to vote on your behalf. You can also manually vote for your desired pools on Votium to earn specific protocol rewards.